Finding Value in Numbers: The Essential Investing Toolkit to Win on Wall Street

Author:   Ehsan Ehsani
Publisher:   Columbia University Press
ISBN:  

9780231217873


Pages:   360
Publication Date:   10 February 2026
Format:   Hardback
Availability:   Awaiting stock   Availability explained


Our Price $49.95 Quantity:  
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Finding Value in Numbers: The Essential Investing Toolkit to Win on Wall Street


Overview

To be successful as an investor, one needs a framework. And no investing framework works without numbers. Although quantitative methods can be intimidating, they provide a major boost to the quality of analysis. Written for readers without a technical background, Finding Value in Numbers is an engaging and practical guide to how thoughtful investors can use numbers-not just for the sake of crunching data but for making better decisions. Using a value investing perspective, Ehsan Ehsani shows how to deploy quantitative tools to identify and analyze investment prospects, demystifying the math that points to overlooked opportunities in the stock market, other securities, and beyond. Numbers help us grasp what a company is worth and why: the quality of a business, the durability of its competitive edge, and the reasonableness of its price. Combining practical frameworks with real-world examples, Ehsani walks readers through key concepts that enable robust analysis while explaining how to spot red flags. Along the way, he reveals how a disciplined, numbers-based approach can support both conviction and patience-two traits every successful investor needs. Blending quantitative insight with timeless investing wisdom, Finding Value in Numbers is an essential book for aspiring and professional investors looking to hone their skills as well as curious readers drawn to the inner workings of markets.

Full Product Details

Author:   Ehsan Ehsani
Publisher:   Columbia University Press
Imprint:   Columbia University Press
ISBN:  

9780231217873


ISBN 10:   0231217870
Pages:   360
Publication Date:   10 February 2026
Audience:   General/trade ,  General
Format:   Hardback
Publisher's Status:   Forthcoming
Availability:   Awaiting stock   Availability explained

Table of Contents

Writer’s Note Background: Setting the Stage You Need to Have a Framework Part I. Is the Idea Investible? 1. What Does “Investible” Mean? 2. Return on Invested Capital 3. Calculating Return on Invested Capital: Special Scenarios 4. A Value Investor’s Guide to Economic Value Added 5. Other Useful EVA-Based Indicators 6. Revisiting ROIC Adjustments 7. Marginal ROIC and Other Commentary 8. Unit Economics 9. Owner Earnings Part II. Is the Valuation Attractive? 10. An Alternative Perspective on Valuation 11. Value of Growth 12. Considerations in Value of Growth 13. A Note on Cost of Capital 14. TAM Analysis 15. Value of Intangible Assets 16. Integrating Intangibles Into Business Valuation Part III. Is There a Path to Profits? 17. Catalysts and Levers for Repricing 18. Risk Arbitrage 19. Value Across Capital Structure 20. Discovering Opportunities in Less Common Securities 21. Short Selling Part IV. Do We Have a Winning Gameplan? 22. A Few Easy Internal Rate of Return Calculations 23. Key Portfolio Decisions 24. Pursuing Value in a Complex World 25. Coming Full Circle Acknowledgments Notes Index

Reviews

What separates a good investor from a great one isn’t genius—it’s clarity of thought and a framework that withstands uncertainty. This book will arm curious MBA students and professional investors with quantitative tools and mental models to accomplish an analyst’s most essential task: determining the gap between price and value. If you want to develop your own framework for security valuation, start here. -- Bob Robotti, president and chief investment officer, Robotti & Company Finding Value in Numbers rekindled the same excitement I felt learning under legendary investor Michael Price, and it will do the same for you. This isn’t another reheated homage to Warren Buffett’s greatest hits; it’s a modern toolkit for value investing in an age defined by intangibles, growth dynamics, and the rise of new-economy businesses. Ehsan Ehsani shows that pure value investing, activism, and special situations share the same uncompromising rule: the numbers must work. -- J. Dennis Jean-Jacques, founder and CIO, Ocean Park Investments Ehsan Ehsani has pulled off something of a miracle. His investing guide delves deeply into the nuances of computing and interpreting the crucial financial metrics that should be in every intelligent investor's toolbox, and yet it remains surprisingly approachable. His well-chosen examples bring the applications to life. Bravo, I say. -- Bennett Stewart, creator of EVA (Economic Value Added) and former senior partner, Stern Stewart & Co. This book is a powerful resource—intellectually honest, practically useful, and deeply grounded in the principles of value investing. In a financial world saturated with narratives and noise, Ehsan Ehsani offers a compelling remedy: a thoughtful, methodical framework for applying quantitative discipline to investment decisions. With clarity and conviction, this book equips investors to think rigorously and dispassionately and pursue long-term success through careful, disciplined analysis. -- Lauren Templeton, founder, Templeton and Phillips Partners Fund, LLC Ehsan Ehsani’s book provides actionable insights for investors at all levels, offering readers a structured approach to identifying value in overlooked opportunities. He brings these concepts to life through compelling real-world case studies, illustrating how investors can uncover undervalued assets, drive operational improvements, and create lasting shareholder value. This book is an essential resource for anyone looking to refine their investing skills and master the art of value creation. -- Guy Spier, chief executive officer, Aquamarine Capital Successful investing requires the weighing, rather than accumulation, of information. In a world of proliferating data, this insight becomes ever more relevant. The analytical frameworks in Ehsani’s book will advantage any investor in their attempt to weigh what is important and what is not. I heartily recommend it to all. -- Django Davidson, founding partner and portfolio manager, Hosking Partners


What separates a good investor from a great one isn’t genius—it’s clarity of thought and a framework that withstands uncertainty. This book will arm curious MBA students and professional investors with quantitative tools and mental models to accomplish an analyst’s most essential task: determining the gap between price and value. If you want to develop your own framework for security valuation, start here. -- Bob Robotti, president and chief investment officer, Robotti & Company Finding Value in Numbers rekindled the same excitement I felt learning under legendary investor Michael Price, and it will do the same for you. This isn’t another reheated homage to Warren Buffett’s greatest hits; it’s a modern toolkit for value investing in an age defined by intangibles, growth dynamics, and the rise of new-economy businesses. Ehsan Ehsani shows that pure value investing, activism, and special situations share the same uncompromising rule: the numbers must work. -- J. Dennis Jean-Jacques, founder and CIO, Ocean Park Investments Ehsan Ehsani has pulled off something of a miracle. His investing guide delves deeply into the nuances of computing and interpreting the crucial financial metrics that should be in every intelligent investor's toolbox, and yet it remains surprisingly approachable. His well-chosen examples bring the applications to life. Bravo, I say. -- Bennett Stewart, creator of EVA (Economic Value Added) and former senior partner, Stern Stewart & Co. This book is a powerful resource—intellectually honest, practically useful, and deeply grounded in the principles of value investing. In a financial world saturated with narratives and noise, Ehsan Ehsani offers a compelling remedy: a thoughtful, methodical framework for applying quantitative discipline to investment decisions. With clarity and conviction, this book equips investors to think rigorously and dispassionately and pursue long-term success through careful, disciplined analysis. -- Lauren Templeton, founder, Templeton and Phillips Partners Fund, LLC Ehsan Ehsani’s book provides actionable insights for investors at all levels, offering readers a structured approach to identifying value in overlooked opportunities. He brings these concepts to life through compelling real-world case studies, illustrating how investors can uncover undervalued assets, drive operational improvements, and create lasting shareholder value. This book is an essential resource for anyone looking to refine their investing skills and master the art of value creation. -- Guy Spier, chief executive officer, Aquamarine Capital Successful investing requires the weighing, rather than accumulation, of information. In a world of proliferating data, this insight becomes ever more relevant. The analytical frameworks in Ehsani’s book will advantage any investor in their attempt to weigh what is important and what is not. I heartily recommend it to all. -- Django Davidson, founding partner and portfolio manager, Hosking Partners Finding Value in Numbers is an excellent distillation of many important financial techniques taught in the value investing program at Columbia Business School. Every serious investor should add this book to their investing library. -- Jennifer A. Wallace, managing member, Summit Street Capital Management


Author Information

Ehsan Ehsani is an adjunct professor in the finance division at Columbia Business School and an investor at an activist and value-oriented firm in New York. He holds an MBA from Columbia Business School, along with master’s degrees from the MIT-Zaragoza International Logistics Program and Chalmers University of Technology in Sweden. Mario Gabelli is the chairman and chief executive officer of GAMCO Investors, Inc.

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